After achieving financial independence as a legal counsel and through other business interests, Bassermann joined the German National Liberal Party and in 1893 was elected to the Reichstag (imperial parliament), where, except for a brief period in 1903, he retained a seat for the rest of his life. A follower of the old National Liberal heroes—especially Eduard Lasker and Rudolf von Bennigsen—he was elected leader of the parliamentary party in 1898 and president of the party executive council in 1905. From 1906 to 1909, in the parliamentary coalition of Chancellor Bernhard von Bülow, he served as mediator between extreme factions but refused all overtures to form a political front with the socialist leader August Bebel and the Social Democrats. His leadership of his own party—torn as it was by conflict from left and right and ever-diminishing membership—was occasionally challenged, but never successfully, and he maintained his control of party affairs until his death.

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...a National Liberal from the Annaberg district in the Saxon metal-mining country, thus gaining a foothold in national politics. At 28 he was the youngest deputy in the Reichstag. The party chairman, Ernst Bassermann, helped to advance his political career, and Stresemann was soon considered Bassermann’s “crown prince.” Stresemann was primarily interested in economic policy both as a...